Subject: Business Ethics and Sustainability The individual assessment entails the analysis of business environmental problemsin a country. Students will be required to identify and discuss any five...

BUSINESS ECTHICS ANS SUSTAINABILITY
    Serial Number
    Contents
    Page Number
    1
    Introduction
    1
    2
    Discussion of Problems in Business Environment
    2-3
    3
    Discussion of Mitigation of Problems
    4-5
    4
    Conclusion
    6
    5
    Referencing
    7
INTRODUCTION
Business environment is the combination of certain factors that affects the overall business of any organization. These factors can be internal that is within the organization or external that is outside the business organization. The understanding of the business environment is very important as it provides the entrepreneurs running the business with an understanding of the strengths and weakness of the overall business. The business organization can conceive a proper SWOT analysis (Strength, Weakness, Opportunity and Threats) which will help in the enhancing the performance of the business. This will also help in understanding the opportunities at hand and rationally decide the opportunities which will help the business in long run. Along with this, an understanding of business environment will help the organization to prepare the business for the forthcoming threats and help the business fighting the same (Gupta, A., 2013).
The understanding of the business environment of owns’ organization, will give the understanding of the competitors prevailing in the current market scenario. Gaining the understanding of the competition existing in the market helps the management to derive better strategies and utilizing the resources to the maximum. The image of any organization is very important for attracting new customers and also maintaining the old customers. The understanding of business environment will help the management in building the brand and image of the organization. The management has to run the business in a way where the factors both at macro and micro level are properly dealt with. The business understanding will help the management to utilize the resource optimally of both the human and non-human resources.
PROBLEMS IN BUSINESS ENVIRONMENT
The overall business is affected by both the external and internal problems which may or may not be in the control of the management (Mugurel-Alin, M., 2019). These problems me be caused by some external factors and can only be resolved by different external factors only. Below are discussed various environmental problems:
(1) ECONOMIC PROBLEMS: Each and every business enterprise is affected by the economic conditions and decisions as made the government of the country. Any change in the economic conditions of the country may have adverse affect on the business environment. The interest rates such as repo rates or reverse repo rates, the inflation rate and valuation of the currencies in the global market affect the business. The interest rates affect the cost of debt as procured which may increase the cost to the company. The increase in the rate of inflation increases the overall expenditure of the business organization which leads to reduction of profits. The flow of cash in the economy is based on the decisions of the government (Šoltés, V. and Štofková, K.R., 2016).
(2) SOCIAL PROBLEMS: Every place has its own different and unique culture and traditions and common market parlance that is followed by most of the business organizations in that geographical area. This affect the attitude of the employees and the workers involved in the business. The life expectancy and the quality of life of the people involved in the business is based on the area where the business operations are performed. The target sector of the market helps the management to focus on the goods or services based on the society and reach out to the customers on an individual basis.
(3) TECHNOLOGICAL PROBLEMS: In the cut throat business competition having the upper hand in the market is very important. The quality of the goods produced or service provided has to match the expectations of the consumers. The...